Robertson Stephens Wealth Management LLC Reduces Holdings in Amgen Inc. $AMGN

Robertson Stephens Wealth Management LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,029 shares of the medical research company’s stock after selling 248 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Amgen were worth $1,125,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cyndeo Wealth Partners LLC grew its stake in shares of Amgen by 10.4% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 24,954 shares of the medical research company’s stock valued at $6,967,000 after buying an additional 2,343 shares during the period. 3Chopt Investment Partners LLC grew its stake in shares of Amgen by 10.2% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 1,399 shares of the medical research company’s stock valued at $391,000 after buying an additional 130 shares during the period. Birch Capital Management LLC grew its stake in shares of Amgen by 2.3% in the 2nd quarter. Birch Capital Management LLC now owns 24,331 shares of the medical research company’s stock valued at $6,794,000 after buying an additional 543 shares during the period. Moseley Investment Management Inc. grew its stake in shares of Amgen by 4.6% in the 2nd quarter. Moseley Investment Management Inc. now owns 6,730 shares of the medical research company’s stock valued at $1,879,000 after buying an additional 295 shares during the period. Finally, Stonebridge Financial Group LLC grew its stake in shares of Amgen by 3.3% in the 2nd quarter. Stonebridge Financial Group LLC now owns 13,652 shares of the medical research company’s stock valued at $3,812,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $309.42.

Amgen Price Performance

Amgen stock opened at $290.13 on Friday. The firm has a market cap of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company’s 50 day moving average is $286.77 and its two-hundred day moving average is $287.68.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the business earned $4.97 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.